Viasat (NASDAQ:VSAT) CFO Sells $299,600.00 in Stock

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $74.90, for a total value of $299,600.00. Following the sale, the chief financial officer owned 26,239 shares in the company, valued at $1,965,301.10. The trade was a 13.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Viasat Stock Performance

VSAT traded down $2.44 on Monday, reaching $72.28. 1,423,712 shares of the stock were exchanged, compared to its average volume of 2,109,094. The company’s 50-day moving average price is $74.62 and its 200 day moving average price is $63.37. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The firm has a market capitalization of $9.96 billion, a PE ratio of -301.17 and a beta of 1.72. Viasat Inc. has a fifty-two week low of $26.10 and a fifty-two week high of $93.03.

Viasat (NASDAQ:VSAT) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Viasat Inc. will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Viasat

Several institutional investors and hedge funds have recently modified their holdings of VSAT. BlackRock Inc. acquired a new position in shares of Viasat during the 2nd quarter worth approximately $1,863,374,000. California State Teachers Retirement System grew its stake in Viasat by 8,886.4% in the 2nd quarter. California State Teachers Retirement System now owns 12,015,500 shares of the communications equipment provider’s stock valued at $1,079,112,000 after acquiring an additional 11,881,792 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Viasat by 2,821.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock worth $111,065,000 after acquiring an additional 3,112,670 shares in the last quarter. Bank of America Corp DE acquired a new position in Viasat during the second quarter worth $127,283,000. Finally, Millennium Management LLC lifted its holdings in Viasat by 673.7% during the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after purchasing an additional 1,206,935 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Oppenheimer began coverage on shares of Viasat in a report on Monday, June 29th. They set an “outperform” rating and a $140.00 target price for the company. B. Riley Financial increased their price target on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Morgan Stanley set a $95.00 price objective on Viasat in a report on Monday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Finally, Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.